Tesla says new entry-level sedan will rival BMW 3 Series in price

The new electric sedan will be priced against rivals such as the Audi A4 and BMW 3 Series

Following the massive success of its Model S, electric car maker Tesla says that its new entry-level sedan will have pricing that will be competitive with the BMW 3 Series, according to a report from AutoCar UK.

Chris Porritt, the company’s vice-president of engineering, told AutoCar that the new Model E sedan will be priced against rivals such as the Audi A4 and BMW 3 Series, which start at $37,800 and $35,990, respectively.

Porritt said there will be very little carry-over from the Model S to the Model E, and the new sedan will not be based on the same aluminum platform as the Model S because it would be too expensive — other materials will have to be used to keep the cost low. The Model E will be about 20 per cent smaller than the S.

The upcoming Model E will be unveiled sometime in 2016, after the Model X SUV, which will be launched in mid-2015.